异质性创新人力资本对企业价值链的影响——基于我国制造业上市公司的实证检验
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摘要
本文把异质性创新型人力资本细分为渐进式创新人力资本和突破式创新人力资本,分析了二者在创新要素禀赋、创新方式、投资风险和回报周期等特征方面的差异,并进一步研究了异质性创新人力资本及其结构对企业价值链高度的影响。使用2011—2016年我国制造业上市公司数据,通过固定效应模型检验发现:异质性创新型人力资本积累能够显著影响企业在价值链中的位置,其中,渐进式创新型人力资本积累提升企业短期价值链高度;突破式创新型人力资本积累提升企业长期价值链高度。采用渐进式技术创新的企业应注重以本科学历毕业生为代表的渐进式创新人力资本积累,采用突破式技术创新的企业应注重以研究生为代表的突破式创新人力资本积累,并且,企业只能在同一时期选择两种创新方式中的一种。
This paper divides the heterogeneous innovative human capital into progressive innovation human capital and breakthrough innovative human capital, and analyzes their differences in the characteristics of innovation factor endowment, innovation mode, investment risk and return cycle, etc. The influence of heterogeneous innovative human capital and its structure on enterprise value chain is further studied. By using the data of listed manufacturing companies in China from 2011—2016, it is found that heterogeneity and innovative human capital accumulation can significantly affect the position of firms in the value chain through the fixed effect model test. Among them, the accumulation of progressive innovation human capital promotes the short-term value chain height of enterprises, and the accumulation of breakthrough innovative human capital promotes the long-term value chain height of enterprises. Enterprises adopting progressive technological innovation should pay attention to the accumulation of innovative human capital represented by undergraduate graduates, and enterprises adopting breakthrough technology innovation should pay attention to the accumulation of innovative human capital represented by graduate students. And enterprises can only choose one of the two innovative ways at the same time.
This paper divides the heterogeneous innovative human capital into progressive innovation human capital and breakthrough innovative human capital, and analyzes their differences in the characteristics of innovation factor endowment, innovation mode, investment risk and return cycle, etc. The influence of heterogeneous innovative human capital and its structure on enterprise value chain is further studied. By using the data of listed manufacturing companies in China from 2011—2016, it is found that heterogeneity and innovative human capital accumulation can significantly affect the position of firms in the value chain through the fixed effect model test. Among them, the accumulation of progressive innovation human capital promotes the short-term value chain height of enterprises, and the accumulation of breakthrough innovative human capital promotes the long-term value chain height of enterprises. Enterprises adopting progressive technological innovation should pay attention to the accumulation of innovative human capital represented by undergraduate graduates, and enterprises adopting breakthrough technology innovation should pay attention to the accumulation of innovative human capital represented by graduate students. And enterprises can only choose one of the two innovative ways at the same time.
引文
[1]中国企业家调查系统.新常态下的企业创新:现状、问题与对策——2015·中国企业家成长与发展专题调查报告[J].管理世界,2015(6):22-33.
[2]Baumol W.J.Entrepreneurship:Productive, Unproductive,and Destructive[J].Journal of Political Economy,1990,98(5):893-921.
[3]Michael E.,Porter.竞争优势[M].陈丽芳,译.北京:中信出版社,2014:9-23.
[4]Shank J K,Govindarajan V.Strategic Cost Management and the Value Chain:The Value Chain Perspective[J].Journal of Cost Management,1992,5(4):5-21.
[5]Gereffi G., Kaplinsky R. The Value of Value Chains:Spreading the Gains from Globalisation[C]. IDS Bulletin. 2001.
[6]Kaplinsky, R., Globalization and Unequalisation:What Can be Learned from Value Chain Analysis[J].Journal of Development Studies,2000,37(2):117-145.
[7]Lucas,R.E.,On the Mechanics of Economic Development[J].Journal of Monetary Economics,1988,22(1):3-42.
[8]Romer P.M.Endogenous Technological Change[J].Nber Working Papers,1989,98(98):71-102.
[9]Benhabib J., Spiegel M.M. The Role of Human Capital in Economic Development Evidence from Aggregate Cross-Country Data[J].Journal of Monetary Economics,2004,34(2):143-173.
[10]Loecker J.D.Do Exports Generate Higher Productivity? Evidence from Slovenia[J].Journal of International Economics,2007,73(1):69-98.
[11]代谦,别朝霞.人力资本、动态比较优势与发展中国家产业结构升级[J].世界经济,2006(11):70-84.
[12]苏杭,郑磊,牟逸飞.要素禀赋与中国制造业产业升级——基于WIOD和中国工业企业数据库的分析[J].管理世界,2017(4):70-79.
[13]孙文杰,沈坤荣.人力资本积累与中国制造业技术创新效率的差异性[J].中国工业经济,2009(3):81-91.
[14]刘志彪,张杰.我国本土制造业企业出口决定因素的实证分析[J].经济研究,2009(8):99-112.
[15]Hume D, Selbybigge L A. Enquiries:Concerning the Human Understanding and Concerning the Principles of Morals[M].Greenwood Press,1980.
[16]Rosenberg N. Studies on Science and the Innovation Process:Selected Works of Nathan Rosenberg[J].Social Science Electronic Publishing,2009.
[17]Winter S G,Nelson R R.An Evolutionary Theory of Economic Change[J].Social Science Electronic Publishing,1982,32(2).
[18]Subramaniam M,Youndt M A.The Influence of Intellectual Capital on the Types of Innovative Capabilities[J].Academy of Management Journal,2005,48(3):450-463.
[19]Chandy R K,Tellis G J. The Incumbent's Curse? Incumbency, Size, and Radical Product Innovation[J].Journal of Marketing,2000,64(3):1-17.
[20]Gatignon H,Tushman M L,Smith W,et al.A Structural Approach to Assessing Innovation:Construct Development of Innovation Locus,Type,and Characteristics[J].Management Science,2002,48(9):1103-1122.
[21]Hamermesh D S, Grant J. Econometric Studies of Labor-Labor Substitution and Their Implications for Policy[J].Journal of Human Resources,1979,14(4):518-542.
[22]Jorgenson D W, Gollop F M, Fraumeni B M. Productivity and U. S. Economic Growth[J]. Economic Journal,1987,100(399):274.
[23]Heckman J,Sedlacek G. Heterogeneity, Aggregation, and Market Wage Functions:An Empirical Model of Self-Selection in the Labor Market[J].Journal of Political Economy,1985,93(6):1077-1125.
[24]Heckman J,Scheinkman J.The Importance of Bundling in a Gorman-Lancaster Model of Earnings[J].Review of Economic Studies,1987,54(2):243-255.
[25]Croix D D L,Doepke M.Inequality and Growth:Why Differential Fertility Matters[J].American Economic Review,2001,93(4):1091-1113.
[26]Doepke M. Child Mortality and Fertility Decline:Does the Barro-Becker Model Fit the Facts?[J].Journal of Population Economics,2005,18(2):337-366.
[27]Castelló-Climent, A. and R. Doménech.“Human Capital Inequality, Life Expectancy and Economic Growth.”Economic Journal, 2008,118:653-677.
[28]Ding, D.H. and Liu, Z.B. From Human Capital to Heterogeneous Human Capital. Productivity Research,1999(3):3-9.
[29]Gao J.Heterogeneous Human Capital and Environment Influence Mechanism of FDI:An Empirical Research Based on the Panel Data Derived from Provinces of China[J].Modern Economy,2016,7(3):290-298.
[30]姚树荣.论创新型人力资本[J].财经科学,2001(5):10-14.
[31]坎贝尔.核心能力战略[M].大连:东北财经大学出版社,1999.
[32]Chandy R K,Tellis G J. The Incumbent’s Curse? Incumbency, Size, and Radical Product Innovation[J].Journal of Marketing,2000,64(3):1-17.
[33]Hitt M A,Hoskisson R E,Johnson R A,et al. The Market for Corporate Control and Firm Innovation[J].Academy of Management Journal,1996,39(5):1084-1119.
[34]March J G.Rationality,Foolishness,and Adaptive Intelligence[J].Strategic Management Journal,2006,27(3):201-214.
[35]梅德强,龙勇.不确定性环境下创业能力与创新类型关系研究[J].科学学研究,2010,28(9):1413-1421.
[36]杨菊华.数据管理与模型分析:STATA软件应用[M].北京:中国人民大学出版社,2012:328-329.
[37]Upward R,Wang Z,Zheng J.Weighing China’s Export Basket:The Domestic Content and Technology Intensity of Chinese Exports[J].Journal of Comparative Economics,2013,41(2):527-543.
[38]余娟娟.全球价值链分工下中国出口技术结构的演进机理与路径[J].产业经济研究,2014(6):31-40.
[39]王直,魏尚进,祝坤福.总贸易核算法:官方贸易统计与全球价值链的度量[J].中国社会科学,2015(9):208-206.
[40]吕越,吕云龙,莫伟达.中国企业嵌入全球价值链的就业效应——基于PSM-DID和GPS方法的经验证据[J].财经研究,2018(2):4-16.
[41]Lee C C,Yang J.Knowledge Value Chain[J].Journal of Management Development,2000,19(9):783-794.
[42]Eustace C.A New Perspective on the Knowledge Value Chain[J].Journal of Intellectual Capital,2003,4(4):588-596.
[43]吴爱华,苏敬勤.人力资本专用性、创新能力与新产品开发绩效——基于技术创新类型的实证分析[J].科学学研究,2012,30(6):950-960.
[44]洪道麟,熊德华.中国上市公司多元化与企业绩效分析——基于内生性的考察[J].金融研究,2006(11):36-46.
[45]朱焱,张孟昌.企业管理团队人力资本、研发投入与企业绩效的实证研究[J].会计研究,2013(11):45-52.
[46]胡元木,纪端.董事技术专长、创新效率与企业绩效[J].南开管理评论,2017,20(3):40-52.
[47]史会斌,吴金希,李垣.能力组合效应对组织运作绩效影响的实证研究[J].管理学报,2014,11(7):997.
(1)本文未用“本科生以上比重”与“研发投入额的对数”的交互项来考察创新投入要素的组合效应,主要是因为“研发投入额的对数”为绝对值变量,而“研发投入率”为相对值变量,后者与“本科生以上比重”组成的相对投入变量要素组合更具经济学意义。
[2]Baumol W.J.Entrepreneurship:Productive, Unproductive,and Destructive[J].Journal of Political Economy,1990,98(5):893-921.
[3]Michael E.,Porter.竞争优势[M].陈丽芳,译.北京:中信出版社,2014:9-23.
[4]Shank J K,Govindarajan V.Strategic Cost Management and the Value Chain:The Value Chain Perspective[J].Journal of Cost Management,1992,5(4):5-21.
[5]Gereffi G., Kaplinsky R. The Value of Value Chains:Spreading the Gains from Globalisation[C]. IDS Bulletin. 2001.
[6]Kaplinsky, R., Globalization and Unequalisation:What Can be Learned from Value Chain Analysis[J].Journal of Development Studies,2000,37(2):117-145.
[7]Lucas,R.E.,On the Mechanics of Economic Development[J].Journal of Monetary Economics,1988,22(1):3-42.
[8]Romer P.M.Endogenous Technological Change[J].Nber Working Papers,1989,98(98):71-102.
[9]Benhabib J., Spiegel M.M. The Role of Human Capital in Economic Development Evidence from Aggregate Cross-Country Data[J].Journal of Monetary Economics,2004,34(2):143-173.
[10]Loecker J.D.Do Exports Generate Higher Productivity? Evidence from Slovenia[J].Journal of International Economics,2007,73(1):69-98.
[11]代谦,别朝霞.人力资本、动态比较优势与发展中国家产业结构升级[J].世界经济,2006(11):70-84.
[12]苏杭,郑磊,牟逸飞.要素禀赋与中国制造业产业升级——基于WIOD和中国工业企业数据库的分析[J].管理世界,2017(4):70-79.
[13]孙文杰,沈坤荣.人力资本积累与中国制造业技术创新效率的差异性[J].中国工业经济,2009(3):81-91.
[14]刘志彪,张杰.我国本土制造业企业出口决定因素的实证分析[J].经济研究,2009(8):99-112.
[15]Hume D, Selbybigge L A. Enquiries:Concerning the Human Understanding and Concerning the Principles of Morals[M].Greenwood Press,1980.
[16]Rosenberg N. Studies on Science and the Innovation Process:Selected Works of Nathan Rosenberg[J].Social Science Electronic Publishing,2009.
[17]Winter S G,Nelson R R.An Evolutionary Theory of Economic Change[J].Social Science Electronic Publishing,1982,32(2).
[18]Subramaniam M,Youndt M A.The Influence of Intellectual Capital on the Types of Innovative Capabilities[J].Academy of Management Journal,2005,48(3):450-463.
[19]Chandy R K,Tellis G J. The Incumbent's Curse? Incumbency, Size, and Radical Product Innovation[J].Journal of Marketing,2000,64(3):1-17.
[20]Gatignon H,Tushman M L,Smith W,et al.A Structural Approach to Assessing Innovation:Construct Development of Innovation Locus,Type,and Characteristics[J].Management Science,2002,48(9):1103-1122.
[21]Hamermesh D S, Grant J. Econometric Studies of Labor-Labor Substitution and Their Implications for Policy[J].Journal of Human Resources,1979,14(4):518-542.
[22]Jorgenson D W, Gollop F M, Fraumeni B M. Productivity and U. S. Economic Growth[J]. Economic Journal,1987,100(399):274.
[23]Heckman J,Sedlacek G. Heterogeneity, Aggregation, and Market Wage Functions:An Empirical Model of Self-Selection in the Labor Market[J].Journal of Political Economy,1985,93(6):1077-1125.
[24]Heckman J,Scheinkman J.The Importance of Bundling in a Gorman-Lancaster Model of Earnings[J].Review of Economic Studies,1987,54(2):243-255.
[25]Croix D D L,Doepke M.Inequality and Growth:Why Differential Fertility Matters[J].American Economic Review,2001,93(4):1091-1113.
[26]Doepke M. Child Mortality and Fertility Decline:Does the Barro-Becker Model Fit the Facts?[J].Journal of Population Economics,2005,18(2):337-366.
[27]Castelló-Climent, A. and R. Doménech.“Human Capital Inequality, Life Expectancy and Economic Growth.”Economic Journal, 2008,118:653-677.
[28]Ding, D.H. and Liu, Z.B. From Human Capital to Heterogeneous Human Capital. Productivity Research,1999(3):3-9.
[29]Gao J.Heterogeneous Human Capital and Environment Influence Mechanism of FDI:An Empirical Research Based on the Panel Data Derived from Provinces of China[J].Modern Economy,2016,7(3):290-298.
[30]姚树荣.论创新型人力资本[J].财经科学,2001(5):10-14.
[31]坎贝尔.核心能力战略[M].大连:东北财经大学出版社,1999.
[32]Chandy R K,Tellis G J. The Incumbent’s Curse? Incumbency, Size, and Radical Product Innovation[J].Journal of Marketing,2000,64(3):1-17.
[33]Hitt M A,Hoskisson R E,Johnson R A,et al. The Market for Corporate Control and Firm Innovation[J].Academy of Management Journal,1996,39(5):1084-1119.
[34]March J G.Rationality,Foolishness,and Adaptive Intelligence[J].Strategic Management Journal,2006,27(3):201-214.
[35]梅德强,龙勇.不确定性环境下创业能力与创新类型关系研究[J].科学学研究,2010,28(9):1413-1421.
[36]杨菊华.数据管理与模型分析:STATA软件应用[M].北京:中国人民大学出版社,2012:328-329.
[37]Upward R,Wang Z,Zheng J.Weighing China’s Export Basket:The Domestic Content and Technology Intensity of Chinese Exports[J].Journal of Comparative Economics,2013,41(2):527-543.
[38]余娟娟.全球价值链分工下中国出口技术结构的演进机理与路径[J].产业经济研究,2014(6):31-40.
[39]王直,魏尚进,祝坤福.总贸易核算法:官方贸易统计与全球价值链的度量[J].中国社会科学,2015(9):208-206.
[40]吕越,吕云龙,莫伟达.中国企业嵌入全球价值链的就业效应——基于PSM-DID和GPS方法的经验证据[J].财经研究,2018(2):4-16.
[41]Lee C C,Yang J.Knowledge Value Chain[J].Journal of Management Development,2000,19(9):783-794.
[42]Eustace C.A New Perspective on the Knowledge Value Chain[J].Journal of Intellectual Capital,2003,4(4):588-596.
[43]吴爱华,苏敬勤.人力资本专用性、创新能力与新产品开发绩效——基于技术创新类型的实证分析[J].科学学研究,2012,30(6):950-960.
[44]洪道麟,熊德华.中国上市公司多元化与企业绩效分析——基于内生性的考察[J].金融研究,2006(11):36-46.
[45]朱焱,张孟昌.企业管理团队人力资本、研发投入与企业绩效的实证研究[J].会计研究,2013(11):45-52.
[46]胡元木,纪端.董事技术专长、创新效率与企业绩效[J].南开管理评论,2017,20(3):40-52.
[47]史会斌,吴金希,李垣.能力组合效应对组织运作绩效影响的实证研究[J].管理学报,2014,11(7):997.
(1)本文未用“本科生以上比重”与“研发投入额的对数”的交互项来考察创新投入要素的组合效应,主要是因为“研发投入额的对数”为绝对值变量,而“研发投入率”为相对值变量,后者与“本科生以上比重”组成的相对投入变量要素组合更具经济学意义。